“[The use cases we’ve selected are those] best fit for the technology. Quantum technology’s strength lies in solving complex mathematical problems such as cryptography for data security,” says Peter Koh, OCBC’s head of group technology architecture, at a media briefing on July 17.
Oversea-Chinese Banking Corporation (OCBC) is embarking on a year-long research collaboration with three universities in Singapore to explore how quantum technology could reshape banking operations.
The bank will work with the National University of Singapore (NUS), Nanyang Technological University (NTU), and Singapore Management University (SMU) to examine quantum applications in the areas of derivative pricing, data security and fraud detection.
